Web posted: July 11, 2001
Deal announced: July 2, 2001
For more information, contact Dennis DeBroeck at 650.335.7168
Fenwick & West has represented Adaptec in their $150 million acquisition of Santa Clara, California-based Platys Communications, Inc. The acquisition will allow Adaptec to provide IP Storage connectivity for three high-growth IP Storage markets, namely: SAN (iSCSI end-to-end connectivity); Switches (Fibre Channel extension and routing); and NAS (iSCSI and TCP/IP connectivity).
The deal, which is expected to close this quarter, involves stock and cash. Working closely with Adaptec counsel Dana Miles, Fenwick's team was led by Corporate Group Chair Dennis DeBroeck, Licensing and IP partner Tim Covington (out of the San Francisco office), Employee Benefits partner Scott Spector and Tax Group partner Walter Raineri. Associates in the San Francisco office included Lynda Twomey from the Corporate Group and Dana Hayter, Glen Choi and Clayton Noble from the Intellectual Property Group. Rounding out the team were Palo Alto Corporate Group associates Montu Bashambu, David Watson and Matt Wilson and Employee Benefits Group associates Darci Winvick and Liza Uzelac.
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